Why yes, yes it is. Think back to Formica countertops (still a very popular surface). They are partial board with a composite material glued on giving it a decorative look. The partial board, decorative composite surface and the glue can all catch fire and burn quite easily but they have been safely installed next to gas ranges for decades. It's because gas and electric ranges have been required by code to be safe for use next to burnable materials, including products like our wood countertops, really since conception.
How is it safe?
Hot air rises, a simple fact that appliance manufactures can count on. When a range is installed correctly the main deck is roughly the same height as the countertop surface putting the burner grates above the counter surface. This ensures all the hot air is above anything that could catch fire. You can test it yourself. Just set your hand next to the range with it running full blast. You'll hardly feel a thing.